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Chancellor John Healey unveils £150m growth fund for North as he pledges to steer Britain through economic turmoil
The Sun • • general
Key Points:
- Chancellor John Healey is focusing on economic growth to navigate Britain through recent financial market instability and geopolitical tensions, presenting an optimistic outlook for the country's future.
- Healey plans to empower local leaders and introduce a £150 million fund aimed at supporting business growth and job creation in the North, while maintaining that growth can counteract inflation driven by rising energy prices.
- Despite Labour's proposed tax increases, the government aims to reduce bureaucratic burdens on small firms by cutting form-filling costs by £450 million, though critics from both opposition and within Labour have dismissed these measures as insufficient.
- The British Chambers of Commerce suggests abolishing Employer National Insurance for under-25s to encourage youth employment, potentially funded by ending the state pension triple lock.
- A consultancy highlights that following Greater Manchester’s devolution-driven growth model could provide households with an average annual income boost of £2,800, create 100,000 homes, and support 70,000 jobs through an £8.5 billion investment in local mayoral powers.
